Purchase Restrictions: Class 529-F-2 share funds are available only for CollegeAmerica accounts sold through Registered Investment Advisors.

Summary

Internal Prompt
A well-researched approach to high-yield investing. Invests in a diversified portfolio of lower rated, higher yielding bonds with a focus on income and the potential for capital appreciation. The high-yield investment team benefits from the extensive research capabilities of Capital’s equity and macroeconomic analysts.
Price at NAV $9.85 as of 1/21/2025 (updated daily)
Fund Assets (millions) $22,691.2
Portfolio Managers
5
Expense Ratio
(Gross/Net %)
0.43 / 0.43%
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Returns at NAV

Returns with Sales Charge

Asset Mix

U.S. Equities4.2%
Non-U.S. Equities0.5%
U.S. Bonds74.0%
Non-U.S. Bonds11.0%
Cash & Equivalents
10.4%
As of 12/31/2024 (updated monthly)

Growth of 10K

High & Low Prices

Fund Statistics

2.9 years
Effective Duration
7%
Average Yield
to Worst
5.8%
Average Coupon
% of net assets as of 12/31/2024 (updated monthly)

Morningstar Style BoxTM— Fixed-Income

Low Quality
Limited Interest-Rate Sensitivity
Morningstar data as of 12/31/24 (updated quarterly)

Description

Fund Objective
The fund's primary investment objective is to provide you with a high level of current income. Its secondary investment objective is capital appreciation.
Distinguishing Characteristics
The strategy invests in a diversified portfolio of lower rated, higher yielding bonds with a focus on income and the potential for capital appreciation. A dedicated team of analysts, traders and portfolio managers collaborate to achieve a comprehensive understanding of a company’s financial position and capital structure via fundamental bottom-up analysis. The high-yield investment team benefits from the extensive research capabilities across Capital’s equity and macroeconomic analysts.
Types of Investments
At least 80% of the portfolio will be invested in high-yield, lower rated bonds (BB+/Ba1 or below at the time of purchase) and other similar securities.
Holdings Outside the U.S.
A portion of the portfolio's assets may be invested in securities of issuers outside the U.S., which may be denominated in currencies other than the U.S. dollar.
Maturity
Typically, the fund will be invested in intermediate- to long-term securities.

Fund Facts

Fund Inception 2/19/1988
Fund Assets (millions)
As of 12/31/2024
$22,691.2
Companies/Issuers
Holdings are as of 12/31/2024 (updated monthly).
459+
Shareholder Accounts
Shareholder accounts are as of 12/31/2024
5,136
Regular Dividends Paid
Monthly
Minimum Initial Investment $250
Capital Gains Paid
Dec
Portfolio Turnover (2024) 39%
Fiscal Year-End Sep
Prospectus Date 12/01/2024
CUSIP 026547 745
Fund Number 1621

Returns

Internal Prompt

Month-End Returns as of 12/31/24

FAHHX
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index

Quarter-End Returns as of 12/31/24

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Volatility & Return

Read important investment disclosures

Fixed-Income

For Class 529-F-2 Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the fixed income funds
FAHHX
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index
Other AF Funds
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

Prices and returns will vary, so investors may lose money. View .

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund , which can be obtained from a financial professional and should be read carefully before investing. Similar information is contained in the , which can be obtained from a financial professional and should be read carefully before investing. CollegeAmerica is distributed by Capital Client Group, Inc., and sold through unaffiliated intermediaries.

Depending on your state of residence, there may be an in-state plan that provides state tax and other state benefits, such as financial aid, scholarship funds and protection from creditors, not available through CollegeAmerica. Before investing in any state's 529 plan, investors should consult a tax advisor. CollegeAmerica is a nationwide plan sponsored by Commonwealth Savers. 

Investing outside the United States involves risks, such as currency fluctuations, periods of illiquidity and price volatility. These risks may be heightened in connection with investments in developing countries.

Smaller company stocks entail additional risks, and they can fluctuate in price more than larger company stocks.

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.

Investment results assume all distributions are reinvested and reflect applicable fees and expenses.

  1. Calculated by Morningstar. Due to differing calculation methods, the figures shown here may differ from those calculated by Capital Group.

Capital Client Group, Inc.

Use of this website is intended for U.S. residents only.

This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.

© 2025 Morningstar, Inc. All Rights Reserved. Some of the information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar, its content providers nor Capital Group are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Information is calculated by Morningstar. Due to differing calculation methods, the figures shown here may differ from those calculated by Capital Group.

Terms and Definitions

Standard Deviation: Annualized standard deviation (based on monthly returns) is a common measure of absolute volatility that tells how returns over time have varied from the mean. A lower number signifies lower volatility.

Standard Deviation as of 12/31/2024 (updated monthly) . Annualized return as of 12/31/2024 (updated monthly) .
VIEW LARGER CHART
Internal Prompt

Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 6.54% 6.56%
Fund at MOP N/A N/A
As of 12/31/2024 (updated monthly)

Portfolio Management

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Tom Chow 10 10 36
David A. Daigle 21 30
Andy Moth 4 8 21
Tara L. Torrens 11 21
Shannon Ward 7 8 32
A boldface number indicates that years of experience with Capital Group is equal to years of experience with investment industry.

Ratings & Risk

Morningstar Rating TM


Overall Morningstar RatingTM
Funds rated(580)
3-yr. Morningstar RatingTM
(580 funds rated)
5-yr. Morningstar RatingTM
(539 funds rated)
10-yr. Morningstar RatingTM
(421 funds rated)
Overall Morningstar Risk Average
HIGH
LOW
Category High Yield Bond
Ratings are based on risk-adjusted returns as of 12/31/2024 (updated monthly).

Risk Measures

Fund
Standard Deviation
7.45
Sharpe Ratio
0.46
For the 10 Years ending 12/31/24 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index
Bloomberg US Agg Bond TR USD
R-squared 19 19
Beta 0.65 0.65
Capture Ratio (Downside/Upside) 39/102 39/102
American Funds Benchmark for the 10 Years ending 12/31/24 (updated monthly).
Morningstar Benchmark for the 10 Years ending 12/31/24 (updated monthly).
U.S. Treasuries/Agencies
0.5%
A
0.0%
BBB/Baa
5.0%
BB/Ba
34.9%
B
29.3%
CCC & Below
14.9%
Other
4.8%
Unrated
1.6%
Cash & equivalents
8.9%
% of net assets as of 12/31/2024 (updated monthly)

Average Life Breakdown

0-4.9 Years
62.1%
5-9.9 Years
21.3%
10-19.9 Years
0.9%
20-29.9 Years
0.6%
30+ Years
0.1%
% of net assets as of 12/31/2024 (updated monthly)

Holdings

Bonds Breakdown

Bond Details

Total bond holdings
U.S. Treasury bonds & notes 0.5%
General obligation bonds 0.1%
Non-U.S. government/agency securities 0.1%

% of net assets as of 12/31/2024 (updated quarterly)

Top Fixed-Income Issuers

EchoStar
2.5%
Charter Communications
2.0%
Service Properties
2.0%
NFE Financing
1.7%
Televisa
1.4%
One Rock Capital Partners LLC
1.4%
Sirius XM Holdings
1.4%
First Quantum Minerals
1.3%
Frontier Communications Parent Inc
1.2%
Navient
1.1%

% of net assets as of 12/31/2024 (updated monthly)

Geographic Breakdown

United States
78.1%
Europe
4.4%
Asia & Pacific Basin
0.9%
Other (Including Canada & Latin America)
6.2%
Cash & equivalents
10.4%
% of net assets as of 12/31/2024 (updated monthly)

Prices & Distributions

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Historical Prices Month-End

Historical Prices Year-End

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Historical Distributions as of 01/21/25

2024
Record
Date
Calculated
Date
Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
Daily 01/31/24 02/01/24 $0.0537248 $0.00 $0.00 $0.00 $9.49
Daily 02/29/24 03/01/24 $0.0485649 $0.00 $0.00 $0.00 $9.48
Daily 03/28/24 04/01/24 $0.0503088 $0.00 $0.00 $0.00 $9.57
Daily 04/30/24 05/01/24 $0.0502339 $0.00 $0.00 $0.00 $9.45
Daily 05/31/24 06/03/24 $0.0539264 $0.00 $0.00 $0.00 $9.56
Daily 06/28/24 07/01/24 $0.0527339 $0.00 $0.00 $0.00 $9.56
Daily 07/31/24 08/01/24 $0.054668 $0.00 $0.00 $0.00 $9.70
Daily 08/30/24 09/03/24 $0.0555978 $0.00 $0.00 $0.00 $9.80
Daily 09/30/24 10/01/24 $0.0545674 $0.00 $0.00 $0.00 $9.89
Daily 10/31/24 11/01/24 $0.0544274 $0.00 $0.00 $0.00 $9.80
Daily 11/29/24 12/02/24 $0.0545379 $0.00 $0.00 $0.00 $9.85
Daily 12/31/24 01/02/25 $0.0551508 $0.00 $0.00 $0.00 $9.76
2024 Year-to-Date: Dividends Subtotal: $0.63844191 Cap Gains Subtotal: $0.00
Total Distributions: $0.63844191

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.28%
Other Expenses 0.15%
Service 12b-1 --
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

FAHHX 0.43%
Lipper High Yield Funds Average
--%
Fund as of most recent prospectus. Lipper Category as of -- (updated quarterly).